Bitcoin investor Tuur Demeester compares BTC market to Amazon’s stock of 2003

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

The founder of Adamant Capital, Tuur Demeester, compared the current bitcoin market to Amazon stock in 2003. He said that bitcoin is not in the bear market, and it is in a state of “post-ICO-bubble bitcoin bull market.”

Well-known bitcoin investor tweeted his opinion with the graph of Amazon’s stock price from 1997 to 2009. He wrote that this is no crypto bear market but rather a post ICO bubble BTC bull market. He further wrote that the year is 2003, 99% of dotcom IPOs are dead, and just like Amazon then, Btc today is screaming buy.

According to Demeester’s theory, the leading cryptocurrency will skyrocket eventually in a similar way to Amazon’s stock in the coming years. Back in 2014, Demeester tweeted a graph that showed bitcoin would touch a million dollar by the end of 2024.

Demeester is not the only one who has predicted a big future for bitcoin. Many in the crypto industry believe bitcoin touching a million dollar is inevitable. Earlier a crypto analyst by using a time-based model predicted that bitcoin would reach $100,000 in 2028.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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